The attorneys of Elon Musk are shifting to dismiss the Dogecoin (DOGE) lawsuit towards the billionaire, calling the go well with “frivolous.”
In a brand new courtroom filing, the enterprise magnate’s attorneys say that “sufficient is sufficient” – that the case towards Musk ought to be “dismissed with out prejudice” because the Plaintiffs’ case is centered solely round memes posted by the Tesla CEO.
Moreover, the attorneys say that there wouldn’t be something fallacious with selling DOGE, a memecoin with a market cap of over $11 billion and that the Plaintiffs’ grievance doesn’t even state a authorized declare.
“Sufficient is sufficient. It’s nicely previous time for this baseless and frivolous motion to be dismissed with prejudice.
Plaintiffs’ fourth try to plead a grievance for securities fraud towards Defendants Tesla, Inc. and Elon Musk – primarily based on nothing greater than Mr. Musk’s innocuous and sometimes foolish tweets a few cryptocurrency referred to as “Dogecoin” (recognized for its meme picture of a Shibu Inu canine) – comes no nearer to stating a declare than Plaintiffs’ three prior makes an attempt.
There’s nothing illegal about tweeting phrases of assist for, or humorous footage about, a cryptocurrency that holds a market capitalization of over $11 billion. Plaintiffs’ fanciful, meandering, and sometimes incomprehensible third amended class motion grievance doesn’t come near stating a declare.”
Musk was initially sued in June 2022 by a gaggle of disgruntled Dogecoin traders who declare their losses had been as a result of billionaire manipulating the worth of the digital asset.
In June of 2023, Musk denied ever proudly owning a Dogecoin pockets after the Plaintiffs made a declare that he offered about $124 million price of the meme asset after its value skyrocketed on account of Musk on the time altering briefly altering Twitter’s iconic blue fowl brand to that of DOGE’s Shiba Inu.
Later that month, Evan Spencer, the lawyer representing the plaintiffs, attempted to take away Alex Spiro, Musk’s authorized counsel, alleging that he leaked a non-public letter between them to the New York Put up. The contents of the letter included Spiro attacking Spencer’s credibility as an lawyer.
Final month, Spencer accused Musk and Spiro of utilizing “illegal ways” to discredit his shoppers and in addition alleged that the billionaire was utilizing his wealth as a “bottomless warfare chest” to fund a harassment marketing campaign towards them.
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Featured Picture: Shutterstock/NextMarsMedia
